UIL Holdings Corporation's Subsidiary, American Payments Systems To Be Acquired by CheckFree Corporation

December 18, 2003

Hoover's Online, December 17, 2003

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NEW HAVEN, Conn.--(BUSINESS WIRE)--Dec. 17, 2003--Today, UIL Holdings Corporation (NYSE: UIL) announced that it has entered into an agreement to sell its wholly owned subsidiary American Payment Systems, Inc. (APS), a leading U.S. provider of walk-in bill payment services, to CheckFree Corporation (Nasdaq: CKFR), a leading provider of financial electronic commerce services and products.